Offering Memorandum
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• 8681 w. sahara ave. • office OFFERING MEMORANDUM 8681 W. SAHARA AVE. table of contents EXECUTIVE SUMMARY Financials tenant profile location overview photos DEMOGRAPHICS JAMES S. HAN, CCIM DEREK BELANUS Las Vegas Market VP of Commercial Sales & Leasing VP of Commercial Sales & Leasing 702.825.2125 702.286.2355 [email protected] [email protected] License: NV BS.0144720.LLC License: NV BS.0143114.PC • 8681 8681 w. w. sahara sahara ave. ave. • • officeoffice 01 EXECUTIVE SUMMARY PROPERTY OVERVIEW pROPERTY DETAILS THE OPPORTUNITY • 8681 w. sahara ave. • office EXECUTIVE SUMMARY 8681 W. SAHARA AVE. Las Vegas, NV 89117 PRICE PROPERTY OVERVIEW $3,050,000 Northcap Commercial Is Pleased To Offer A Prime Investment Opportunity. This Leased Investment Is Located Within The Lake Sahara Plaza. This 100% Leased Professional Office Is Situated In A GROSS RENTABLE AREA Professional Office Complex And Is Conveniently Placed In The Busy Sahara Corridor Near Durango Drive. The Immediate Area Offers Financial and Medical Services, Retail and Restaurants. 12,320 SF Disclaimer: Our information is deemed reliable but not guaranteed. Buyer to verify all information. PROPERTY DETAILS NOI $196,244 Sale Type Leased Investment Price/SF $247.56 Sale Condition Cash Tenancy 3 Tenants CAP RATE Property Type Office Building Height 2 Stories Typical Leased 100% 6,160 SF 6.4% Floor Size Building Size 12,320 SF Parcel # 163 - 05 - 510 - 024 YEAR BUILT Sahara - 35,000 CPD Building Class B Traffic Count Durango - 26,000 CPD 1999 Zoning C - 1 Land Acres 0.68 AC *Starting Sept, 2021 INVESTMENT OPPORTUNITY • • 4 financials • 8681 w. sahara ave. • office financials • rent roll UNIT TENANT SIZE PERCENTAGE % MONTHLY RENT ANNUAL RENT LEASE TERM OPTION RENEWAL DATE 100 Patriot Growth Insurance Services 6,160 RSF 50% $10,000.00 $120,000.00 5 Years 1 - 3 years 8/31/25 Fixed rent for 5 years with 5% increase at renewal. $7,314.00 200, 250, 280 Kinetic 4,840 RSF 39% $87,768.00 3 Years 08/31/2024 Until 8/2021 $7,600.00 $91,200.00 3 Years Starting 9/2021 220 Tucker & Associates 1,320 RSF 11% $1,980.00 $23,760.00 5 Years 1 - 5 years 12/31/25 Local Accounting Firm with plans to stay for 10 years. Has annual increases built in after year Yr 2 INVESTMENT OPPORTUNITY • • 5 tenant profiles • 8681 w. sahara ave. • office tenant profiles KINETIC SUITE 100 SUITE 280 SUITE 220 Suite Square Footage: 6,160 RSF Suite Square Footage: 4,840 RSF Suite Square Footage: 1,320 RSF Lease Expiration Date: 8/31/2025 Lease Expiration Date: 8/1/2024 Initial Occupancy: 1/01/2021 Lease Expiration Date: 12/31/2025 Patriot Growth Insurance Services Private Equity backed Insurance broker with Kinetic a national footprint. 53rd largest broker Kinetic is in the solar space. Rapid growing Tucker and Associates in the country. Growing rapidly. Revenues company. Local Tax accountants. north of $70M. Locations across the country. INVESTMENT OPPORTUNITY • • 6 LOCATION OVERVIEW • 8681 w. sahara ave. • office DOWNTOWn SUMMERLIN QUEENSRIDGE CHARLESTON BLVD. SAHARA AVENUE CANYON GATE COUNTRY CLUB THE LAKES DURANGO ROAD SUBJECT LOCATION OVERVIEW Northcap Commercial Is Pleased To Offer A Prime Investment Opportunity. This Leased Investment Is Located Within The Lake Sahara Plaza. This 100% Leased Professional Office Is Situated Adjacent to The Lakes, Canyon Gate Country Club and is in close proximity to Peccole Ranch and Summerlin. INVESTMENT OPPORTUNITY • • 7 • 8681 w. sahara ave. • office 02 PROPERTY PICTURES EXTERIORS INTERIORS AERIALS EXTERIOR PICTURES • 8681 w. sahara ave. • office EXTERIOR PICTURES INVESTMENT OPPORTUNITY • • 9 EXTERIOR PICTURES • 8681 w. sahara ave. • office INVESTMENT OPPORTUNITY • • 10 INTERIOR PICTURES • 8681 w. sahara ave. • office INTERIOR PICTURES INVESTMENT OPPORTUNITY • • 11 INTERIOR PICTURES • 8681 w. sahara ave. • office INVESTMENT OPPORTUNITY • • 12 AERIAL PICTURES • 8681 w. sahara ave. • office AERIAL PICTURES INVESTMENT OPPORTUNITY • • 13 • 8681 8681 w. w. sahara sahara ave. ave. • • officeoffice 03 DEMOGRAPHICS & las vegas market Demographic and Income Comparison Profile 8681 W Sahara Ave, Las Vegas, Nevada, 89117 Prepared by Esri Rings: 1, 3, 5 mile radii Latitude: 36.14238 DEMOGRAPHICS • 8681 w. sahara ave. • office Longitude: -115.28167 1 mile 3 miles 5 miles Census 2010 Summary Population 17,470 157,597 414,148 Hdemographicouseholds report 7,540 63,617 162,899 Families 4,432 39,448 101,427 Average Household Size 2.32 2.47 2.53 Owner Occupied Housing Units 4,070 35,013 87,923 Renter Occupied Housing Units 3,470 28,604 74,976 Median Age 40.6 39.6 38.0 2020 SUMMARY 1 MILE 3 MILES 5 MILES 2020 Summary Population 18,529 171,445 468,632 Households 7,965 69,174 182,445 Families 4,603 42,230 112,113 Average Household Size 2.33 2.47 2.56 Owner Occupied Housing Units 4,088 35,824 93,974 Renter Occupied Housing UnDeits mographic and Income3, 876Comparison P33rofile,350 88,471 Median Age 42.8 41.7 39.7 Median Household Income 8681 W Sahara Ave, Las Vegas, Nevada, $6089117,500 $60,065 Prepar$57ed ,0by61 Esri Average Household Income DeRings:mo 1, 3g, ra5 mipleh raicdii and Incom$92e,2 C01omparison P$88rofile,109 Latitude:$85 36.,41423858 Longitude: -115.28167 2025 Summary 8681 W Sahara Ave, Las Vegas, Nevada, 89117 Prepared by Esri 2020 HOUSEHOLDS BY INCOME 1 mile 3 miles 5 miles Population Rings: 1, 3, 5 mile radii 19,556 183,068 Latitude:500 36.,81423826 2020 Households by Income Number Percent Number Percent Number Percent Households 8,390 73,764 Longitude: -115.28194,461167 <$15,000 767 9.6% 6,131 8.9% 17,529 9.6% Families 4,837 44,924 119,257 $15,000 - $24,999 7271 mile 9.1% 5,3651 miles 8.2% 15,9495 miles 8.7% Average Household Size 2.33 2.47 2.57 20$25,00010 Popu -l a$t3i4o,n9 9by9 Age Number829 Perce10.4%nt Num6,206ber Perce9.0%nt Num17,62be9r Percent9.7% Owner Occupied Housing Units 4,292 38,309 100,839 $A3g5e ,0 0-0 4 - $49,999 948880 11.9%5.0% 10,198,4369 14.7%5.4% 2825,75,1461 15.4%6.2% Renter Occupied Housing Units 4,098 35,455 93,622 $A5g0e ,50 0-0 9 - $74,999 1,385823 17.4%4.7% 12,8288,836 18.5%5.6% 32,5125,4022 17.8%6.1% Median Age 43.2 42.0 39.9 $Age75 ,1000 0- -1 4$99,999 917936 11.5%5.4% 9,8,935493 12.9%6.0% 2225,74,7141 12.4%6.2% Median Household Income $63,847 $64,199 $60,746 $A1g0e 01,50 0-0 1 -9 $149,999 1,963089 13.7%5.5% 9,529745 13.8%6.2% 23,87225,687 13.1%6.2% Average Household Income $97,858 $96,361 $93,838 $Age15 020,0 0-0 2 -4 $199,999 1,511173 6.4%7% 9,4,460963 6.4%3% 1026,35,6476 6.5.8%4% $200,000+Age 25 - 34 2,792704 15.5%9.9% 22,145,2364 14.1%7.6% 13,4459,7277 14.4%7.4% TrenAdgs:e 2305 2-0 4-42025 Annual Rate 2,306 13.2% 22,792 14.5% 60,795 14.7% Population 1.08% 1.32% 1.34% MAgeed i4a5n -Hou 54sehold Income $60,502,7170 15.5% $60,06524,433 15.5% $5759,061,471 14.4% Households 1.05% 1.29% 1.28% AveAgera 5ge5 - Ho64usehold Income $92,202,4351 13.9% $8820,617,109 13.1% $8549,42,4582 11.9% Families 1.00% 1.24% 1.24% PeAgre C6a5p i-ta 7 4Income $39,1,600513 8.7% $312,425,4873 7.9% $3323,,340480 7.8% OwAgener 75Ho use- 84holds 768 4.4%0.98% 6,503 4.1.1%35% 17,775 1.4.42%3% MeAdgiaen 8 Hou5+ sehold Income 252 1.4%1.08% 2,213 1.1.4%34% 5,681 1.1.26%4% 202020 2POPULATION5 Households by BY In AGEcome Number Percent Number Percent Number Percent <$15,000 761 9.1% 6,072 8.2% 17,486 9.0% 20$2105 ,P0o0p0u -l a$2ti4o,n9 9by9 Age Number703 Perce8.4%nt Num5,430ber Perce7.4%nt Num15,367ber Percent7.9% $25,000Age 0 - 4 - $34,999 823839 9.4.8%5% 6,8,207330 8.4.4%9% 17,6226,611 9.5.1%7% $A3g5e ,50 0-0 9 - $49,999 985835 11.7%4.5% 10,508,5846 14.2%5.0% 2926,185,943 15.0%5.7% $Age50 ,1000 0- -1 4$74,999 1,438891 17.1%4.8% 13,2058,771 17.9%5.1% 33,5727,0982 17.3%5.8% $A7g5e ,1050 0- -1 9$99,999 1,020828 12.2%4.5% 9,8,902912 13.4%5.2% 25,228,896 13.0%5.5% $Age10 020,0 0-0 2 -4 $149,999 1,224215 14.6%6.6% 10,80410,680 14.6%6.2% 26,9229,141 13.8%6.2% $A1g5e 02,50 0-0 3 -4 $199,999 2,613758 14.9%7.3% 25,115,4832 14.6%7.4% 1268,925,209 14.6%6.6% $200,000+Age 35 - 44 2,823429 13.1%9.8% 22,4516,155 13.1%8.3% 16,1462,2292 13.3%8.3% Age 45 - 54 2,369 12.8% 23,134 13.5% 61,181 13.1% MAgeed i5a5n -Hou 64sehold Income $63,842,7557 14.9% $64,19924,425 14.2% $6059,51,7469 12.7% AveAgera 6ge5 - Ho74usehold Income $97,852,1808 11.8% $9618,77,3619 11.0% $9348,838,409 10.3% PeAgre C7a5p i-ta 8 4Income $41,928088 5.9% $38,9,747116 5.3% $324,676,6785 5.3% Age 85+ 341 1.8% 3,150 1.8% 8,735 1.9% 2025 Population by Age Number Percent Number Percent Number Percent Age 0 - 4 897 4.6% 9,074 5.0% 28,973 5.8% Age 5 - 9 872 4.5% 9,086 5.0% 28,524 5.7% Age 10 - 14 899 4.6% 9,334 5.1% 28,560 5.7% Source: U.S.